Principal Financial Group Inc. Sells 4,371 Shares of AGCO Corporation $AGCO

Principal Financial Group Inc. reduced its position in AGCO Corporation (NYSE:AGCO) by 0.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 737,140 shares of the industrial products company’s stock after selling 4,371 shares during the period. Principal Financial Group Inc. owned 0.99% of AGCO worth $78,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AGCO. Cullen Frost Bankers Inc. grew its holdings in AGCO by 1,721.4% in the third quarter. Cullen Frost Bankers Inc. now owns 255 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 241 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of AGCO in the 3rd quarter worth $29,000. EverSource Wealth Advisors LLC grew its stake in AGCO by 951.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company’s stock worth $29,000 after buying an additional 257 shares during the last quarter. SJS Investment Consulting Inc. grew its stake in AGCO by 3,725.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 306 shares of the industrial products company’s stock worth $33,000 after buying an additional 298 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in AGCO by 109.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock valued at $34,000 after buying an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of NYSE AGCO opened at $116.57 on Wednesday. The company has a 50 day simple moving average of $108.70 and a two-hundred day simple moving average of $108.85. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 10.39 and a beta of 1.19. The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $121.16.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 13th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 13th. AGCO’s dividend payout ratio is presently 23.06%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their price target on AGCO from $115.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. dropped their target price on shares of AGCO from $127.00 to $123.00 and set an “overweight” rating on the stock in a research report on Friday, December 19th. Wells Fargo & Company started coverage on shares of AGCO in a report on Thursday, November 13th. They issued an “equal weight” rating and a $114.00 price target for the company. Barclays downgraded shares of AGCO from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $116.00 to $93.00 in a research note on Friday, December 19th. Finally, UBS Group cut their target price on AGCO from $119.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $111.80.

Insiders Place Their Bets

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $104.28, for a total transaction of $26,070.00. Following the completion of the transaction, the senior vice president owned 17,130 shares in the company, valued at approximately $1,786,316.40. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 16.90% of the company’s stock.

AGCO Profile

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.